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question about settelment letter to collection agency

Submitted by on Tue, 07/16/2013 - 09:39
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Is this an acceptable letter to a collection agency as an offer to settle debts?

In Reference to the account: ____________________

To whom it may concern,

I am in a position to offer 250.00 towards settling this debt. I will require that after satisfying this payment, my account will be reported “Paid in Full”. I also will request that you remove any late payments or charge offs on this account from my credit report once this settlement is paid.

If your company is willing to accept my offer, then please sign this letter agreeing to my proposal and return a copy to me. As soon as I get back this signed form, I can pay you by cashier’s check or money order immediately.

Sincerely,


No CA is going to negotiate via the mail or mark a settled account as paid in full. Call and offer them a settlement...then have them fax you a settlement letter.

Settled or paid in full collection account...neither will do anything for your credit.


Submitted by SOAPLADY on Tue, 07/16/2013 - 16:42

SOAPLADY

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